Jammu & Kashmir a nucleus to forge new economic alliance between South Asia and Central Asia: Haseeb Drabu

J&K finance minister Haseeb Drabu envisions the state as a nucleus towards forging a new economic alliance in the region between the South and the Central Asia and become a vibrant trade and transit route.

The minister in the PDP-BJP government referred to the shared historical geo-cultural affinity of central Asia and India, which could be revived and strengthened through J&K. Drabu expressed the views during a special session at the summit in UAE on investment opportunities in J&K. Drabu claimed that one of the biggest business groups of UAE, Emaar Group and Dubai Ports have expressed their willingness to explore the possibility of investing in J&K.

The PDP since its inception has advocated opening of the historical routes to central Asian countries also included in its self rule vision document, which has been put in the back burner, since their alliance with the BJP.

“There is convergence of views on varied issues and interests between the Central Asian Republics and India, including promoting economic, scientific and cultural cooperation in the region. J&K can become a surface transport passage for reviving traditional economic linkages in the region,” the government spokesperson quoted Drabu as saying in the summit.

PDP has also promoted the cross LoC barter trade between the two sides of Kashmir started in 2008, as the beginning of this broader concept of opening all the traditional routes to central Asia. J&K chief minister Mehbooba Mufti has repeatedly batted for opening of traditional routes to central Asia from different regions of J&K.s

Referring to foreign direct investment opportunities in J&K, Dr Drabu said there is huge potential for investment in tourism, energy, education, healthcare, Information Technology and agriculture sectors including setting up of a dry port, cold chain, education zone for foreign universities and Special Economic Zones for handicrafts and sports goods including cricket bats.

The two-day India-UAE Partnership Summit (IUPS) was attended by around 800 top businessmen, ministers, officials, investors and academics from both the countries with the objective of significantly enhancing investments from UAE to India. They focused on key areas of strategic partnership, investments-implementation and travel and tourism sector.